Section 16-106-2.5 - Conduct(a) To fully protect the general public in its time share transactions, every registrant shall conduct business in accordance with this section.(b) The registrant shall protect the public against fraud, misrepresentation, or unethical practices in the time share industry. The registrant shall endeavor to eliminate any practices in the community which could be damaging to the public or to the dignity and integrity of the time share industry. The registrant shall assist the director in its efforts to regulate the practices of the time share industry in this State.(c) The registrant shall ascertain and disclose all material facts concerning every time share interest so that the registrant may fulfill its obligation to avoid error, misrepresentation, or concealment of material facts.(d) The registrant shall not be a party to the naming of a false consideration in any document, unless it be the naming of an obviously nominal consideration.(e) The registrant shall recommend that title be examined, survey be conducted, or legal counsel be obtained when the interest of either party requires it.(f) The registrant, for the protection of all parties with whom the registrant deals, shall see that financial obligations and commitments regarding time share transactions are in writing, expressing the exact agreements of the parties, and that copies of those agreements, at the time they are executed, are placed in the hands of all parties involved.(g) Violation of any part of this chapter by a registrant or resale agent may be cause for revocation or suspension of a registration of that registrant or resale agent.Haw. Code R. § 16-106-2.5
[Eff and comp 9/15/90] (Auth: HRS §§ 514E-13, 514E-2.5) (Imp: HRS § 514E-12)